Week of August 29, 2005
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Photo by Babe Sarver; Courtesy of the Greater Phoenix Convention and Visitors Bureau

Ruling Muddies Clean Water Act Permitting Program

If a recent appeals court decision is allowed to stand, builders in the West could find themselves having to contend with an onerous layer of Endangered Species Act requirements in order to receive Clean Water Act (CWA) permits.

An Aug. 22 decision by the U.S. Ninth Circuit Court of Appeals affects a section of the CWA that allows states to assume responsibility for issuing storm water discharge permits if they meet nine specific criteria. The ruling also pertains to a section of the Endangered Species Act that requires federal agencies to consult with the Fish and Wildlife Service to ensure that their actions don’t have a negative impact on endangered species or their habitat. ...

Framing Lumber Composite $ 355 $ 0
OSB Composite $ 301 $ 8
Southern Pine Plywood Composite $ 476 $ 1
With permission from: www.randomlengths.com 
 

Transportation Bill Gives a Boost to Growth

The six-year, $286 billion highway transportation bill signed into law earlier this month by President Bush will help to create jobs and boost the economy, and contains key provisions that will benefit the nation’s home builders.

“Transportation and land use must complement each other,” said NAHB President David Wilson. “We are pleased that this legislation preserves the prerogatives and flexibility of local governments to plan for the transportation and growth needs of their local communities while encouraging private sector involvement in the planning process.” ...

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Interest Rates  
  30-Yr. Fixed: 5.77% 15-Yr. Fixed: 5.35% 5 Yr. ARM: 5.30%
  1 Yr. ARM: 4.56% Libor (3 months): 3.86% Prime: 6.50%
Housing Starts*  (July 2005)
  Total: 2.042 million Single: 1.711 million Multi: 331,000
Home Sales*  (July 2005)
  New: 1.410 million Existing: 7.16 million  
Median Home Prices  (July 2005)
  New: $203,800 Existing: $218,000  
* Seasonally Adjusted Annual Rate

   
 
Miller Advises Against Setting a Dangerous Precedent by "Downsizing" the GSEs
What Makes Freddie Mac a Good Idea?
 
   
 
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